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ABONPdIAPCHE <br />Confidence By Design <br />October 22, 2008 <br />Members of the Common Council <br />City of South Bend <br />227 West Jefferson Boulevard, Suite 400 S <br />South Bend, IN 46601 <br />ENGINEERS RE: Royal Oak Estates, Section 2 8~ 3 <br />ARCHITECTS VarIOUS LOtS <br />PLANNERS 5 Year Residential Property Tax Abatement Renewal <br />SURVEYORS <br />750 Lincoln Way East <br />South Bend, IN 46601 <br />T. 574-232-8700 <br />F. 574-251-4440 <br />www.abonmarche.com <br />FORT WAYNE, IN <br />BENTON HARBOR, MI <br />MANISTEE, MI <br />SOUTH HAVEN, MI <br />Dear Council Members: <br />On behalf of the current owner, First Federal Savings Bank, and the <br />contingent owner and builder, Weiss Homes, Inc., we are requesting <br />the renewal of a 5 year residentia4 property tax abatement for 43 lots <br />within Royal Oak Estates, Section 2 and 3. Royal Oak Estates is <br />located on the south side of the City of South Bend and lies to the <br />south of Johnson Road between Miami Road and U.S. 31. <br />Sections 2 and 3 of this subdivision were subdivided and a 5 year <br />property tax abatement was approved in 2003. The abatement for <br />Section 2 was approved by the Common Council on January 27, 2003 <br />(Resolution No. 3156-03), and the abatement for Section 3 was <br />approved by the Common Council on December 8, 2003 (Resolution <br />No. 3277-03). Therefore, the abatement for the lots included within this <br />petition have either already expired or soon will be expiring. <br />First Federal Savings Bank acquired ownership of the remaining <br />undeveloped lots within Royal Oak Estates this month via a tax sale. <br />These lots were previously owned by D 8~ H Home Builders, Inc.; the <br />original developer of the subdivision. Weiss Homes, Inc. has an <br />agreement with First Federal Saving Bank that they will be the sole <br />builder of homes upon these lots. <br />By approving the renewal of the tax abatement, Weiss Homes, Inc. will <br />be able to market the lots with this incentive. Also, the prospective <br />owners of these undeveloped lots will be able to benefit from the <br />same abatement which has been granted for every other developed <br />lot within the subdivision. The City of South Bend will still receive the <br />additional taxes generated by these improved residential lots based <br />upon the 5 year abatement schedule. After the 5 year abatement <br />expires, the City will receive 100 percent of the taxes assessed for these <br />lots. <br />